Information Technology, eCommerce, Enterprise and LifeSciences are all areas to watch in Ireland, Barry O’Dowd, IDA

By @SimonCocking. We ran a great interview with Barry O’Dowd on trends to watch in 2016 last month. Talking about this inspired Barry’s and he was keen to come back to us with some further insights on which sectors to watch for further Irish successes in 2016 and beyond. 

Information Technology

On the consumer side entities delivering social, mobile and e commerce applications will continue to be growth opportunities. On the enterprise side, cost reduction and revenue enhancement are areas that produce high demand.

Consumer

Services businesses in the internet and software areas meeting consumer demand for internet services and e commerce are attractive areas at present. The popularity of social media and mobile communications are key drivers (Etsy – Dublin – e commerce, Viagogo – Limerick – e commerce, Overstock.com – Sligo – e commerce)

Enterprise

Trending areas like cloud computing and software as a service (SaaS) where software applications are centralised on the internet are big growth areas. Barriers to entry are lowering in cloud computing and SaaS as capital expenditure requirements reduce. Hardware utilisation is improving and IT support infrastructure is lessening. Big data incorporating real-time analytics is a significant growth area. Predictive analytics are allowing customers and consumers to better understand business behaviours and performance are growing speedily .(Mongo DB – Dublin – Data services, Zendesk – Dublin – SaaS      ,New Relic – Dublin – Analytics, Zalando – Dublin – Behavioural Analytics, Primeur – Waterford – Fintech)                                

Lifesciences

On the Lifesciences side innovation investment is high which in turn is presenting opportunities. Health Care Information Technology (HCIT) is an area of opportunity. Innovation cycles, such as convergence of IT & Lifesciences areas including personalized medicine are generating growth. (phenox – Galway – Medtech)

In recent years, Ireland has proved to be a very attractive location for companies involved in many of these growth areas.      

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